connell, it is yours. connell: thank you very much. things are wrapping up overseas with the u.s. sending a fifth destroyer to the mediterranean. after russia said it was sending ships to the region. we will retaliate, that is what is coming in from the syrian government today, the regime and allies, namely iran, as they wait to see what the u.s. will do. the german leader angela merkel pushing vladimir putin to get on board with international response to syria. he would say this is the moment for leaders. where are they? neil cavuto will step in to talk about it later this hour. and raising the global economy. the overall growth in these countries now matching that of the world's economic powers. money well spent, or maybe not.

for a percent of america's best paid ceos have ended up as failures over the last 20 years. that is what a new survey has found. a lot more coming up on "markets now." welcome to "markets now," good to have you with us. we have a lot to talk about today. first to the market, better-than-expected economic reports pushing the stock market up again. lauren simonetti on the floor of the new york stock exchange. lauren: two days of gains following two days of losses. it is a holiday week, volume is light. we do get a couple favorable reports on the job market and on the growth of the economy, gdp coming in sharply higher than expected. that sometimes good news means

bad news in the fed is saying we are strong enough we can start tapering but a lot of the traders say that is already baked into the market. if you look at the dow jones industrial average, verizon leading it in a major way followed by bank o bowling and with oil pulling back. back to you. connell: out the latest on syria as the obama administration is holding briefings with members of congress on the situation over there. coming as the military really seems to be incraeasing its presence in the middle east this morning. last 15 minutes we have learned a fifth navy destroyers on the way to the region. from the white house, rich edson. rich: this is about selling it to the american people and selling it to congress on that latter front tonight at 6:00 key officials will brief those from congress and the congress

committee with congressional leadership. also inspecting as early as today the release of intelligence report laying out the case showing the evidence that the regime used chemical weapons. president obama laid out the goals of any intervention. >> we send a shot to stop doing this. that can have a positive impact on our national security over the long-term and may have a positive impact that chemical weapons are not used again on innocent civilians. rich: meanwhile the british government continues to move forward on this. in the end there really is no 100% certainty about any of the use but says you have to make a judgment and if nothing is done, they will conclude they have to continue doing things like this and the biggest danger is if

they stand back and do nothing. >> this house will decide what steps we next take if you're great emotion i have set down, no action can be taken until we have heard from the u.n. weapons instructors, until there has been further action at the united nations and another vote in this house. those of the conditions that we the british government, british parliament are setting and i think it is absolutely right that we do so. rich: despite international opposition most notably from russia there is opposition in the united states were a concern for the call of the ministration run any action through congress. lawmakers are still out for the next couple of weeks. back to you. connell: fox news polic middle t analysts. joining us from our bureau there now. following up on david cameron's points, the point he is making. your view knowing what you know now, do we risk more by intervening in syria, getting involved, or do we risk more by

not getting involved? >> it is an extremely difficult equation on both sides of the atlantic for those who want us because if you do not do anything, this is going to be a signal to the regime and iran they have actually crossed the redline and can use the weapons again. if we do a limited action being devised right now, this will destroy some of what the syrians have. they will send more sophisticated weapons at the arab israeli world. that is what the russians will be doing. so the measure we will be taking will command what will happen after what the reaction of the iranians weapons will be. connell: so what is the best of the worst options? that interview last night so we don't have any good options, but

we don't have very many good options. your view what is the best? spea>> the architecture does not provide not to do anything, the syrian regime and iranian regime will expand further in their violence but other options and doing limited action. at the same time, mistake syrian secular opposition and move forward. we are confronted with a choice. if we push too much on asad, it will be worse for us. our architecture has a change for the actions we take at this point in time if we do make sense and gives us options. connell: wher better think of te ramifications with israel, the

risk of cyber attacks as well. what comes next in syria? with whoever follows. >> absolutely. that way before we got to the point asad goes down it who will replace him, we had the reaction of iran, hezbollah, syria. attacking other arabs in the gulf and because we are interested in that, they may attack our resources in the gulf or have terrorists attacking in the gulf and we have a situation to worry about. the first wave of what could be a much bigger constant in the region. connell: looks like it is coming sometime in the not so distant future. thank you very much. this next story is somewhat related to what we're talking about but the combined gdp of developing countries to pass sug

richer countries. expected to hit $44.4 trillion this year. dan hettinger joins us o of "the wall street journal" editorial page. what does this tell you that we are seeing these developed countries pass the more established? >> this is fundamentally economic growth. statistics like you had on the screen, but this is what creates well-being. this is a good news, bad news story. through all of history, even in the 20th century when everybody was growing, they were not. now they are, which means the people living there are wealthier, there being able to have a normal life. the bad news is developing economies in the united states

and europe are slowing. growth is slowing. connell: that is a bigger part of the story? >> that is, the whole thing gets cold in, the world will flow. high unemployment across europe, spain, italy, france, getting high youth unemployment here. our economies are slowing down. connell: this is why i said these two stories could be related in some way. we talk about rest overseas. they were falling apart and what happens in egypt, those economies start to do better. what we see better situations with less unrest? >> absolutely. you put your finger right on it. the arab springs was about business subject. they sent a lot of their young people to college.

there is no work for them. the economies are not producing jobs and that is in large part by the arab spring happened. there is no if the middle east can begin to grow and begin to siphon off some of these energies, we would be talking about it a lot less. if they grow, it would not have to spend time talking about shooting tomahawk missiles into syria. but wconnell: but we are. and the countries are not there yet. >> to start withdrawing the policy impediments that are putting headwinds against the economy like obamacare, like labor regulations that make it harder for people to hire. if the united states, we just had this growth rate, still blow the historic rate can be growing

again over 3%, breathing a huge sigh of relief. connell: thank you as always. meantime, speaking of leadership, looking for the next winston churchill. neil cavuto coming up on which is likely to step up in a syrian conflict. no refund, the carriers 40% of the best ceos over the last two decades, 40% of the top ceos have ended failure. fast food workers want to raise the mac get a raise. that and more. everything coming up in syria. oil in the spotlight. [ indistinct shouting ]

♪ [ indistinct shouting ] [ male aouncer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] .you'll bust your brain box. ♪ all onhinkorswim from td ameritrade. ♪ from td ameritrade. nascar is about excitement. but tracking all the action and hearing everything from our marketing partners, the media and millions of fans on social media can be a challenge.

that's why we partnered with hp to build the new nascar fan and media engagement center. hp's technology helps us turn millions of tweets, posts and stories into real-time business insights that help nascar win with our fans.

connell: "markets now" back with a pretty interesting topic. the performance of ceos.

these are depressing numbers, 40% of the nation's best paid chief executives and up as failures. over the past two decades. fired, run fraudulent companies, whatever it may be. we bring in former chairman at goldman sachs and now a chairman at the harvard business school. that sounds very high, 40% failure rate. >> it says a lot about the financial crisis we went through an '08, '09. a lot of the highly paid ceos were financial services firms and many of them failed, as we know, and were overleveraged. i think the lesson of this is not lost on companies and corporate boards in that bottom-line profitability to judge ceo comp, yo you're lookig

at it narrowly, you have to look at the leverage and how much risk the company is taking on the balance sheet. you have to look at other factors in terms of building a franchise, market share and other things. what you see is money and net income, sometimes stock prices are lagging indicators of trouble at companies. if there overleveraged or not adding value. connell: it has the question of circumstance versus value. that happens to ceos, in many cases it happens in some cases. do we have the right metrics? we are supposed to be able to measure everything. are we not measuring the performance of business leaders accurately, is that the point? >> it is possible, yeah. here's what happens.

so you have a business leader who has a very destructive operating style, but in a business that is doing very well right now but yet he is killing off his successors, he may be squelching opposition in the company, they may not be debating the key issues. in a given year they may be doing very, very well. what the directors are realizing as they have to go more than just look at financial metrics, they have to look at the leadership style, what is going on to the franchise and they have got to also look much more at the balance sheet and how much risk the company is taking and the last thing is when you pay the ceo a lot of money, make sure a lot of it is in stock so if the stock ultimately falls off, the ceo is accountable. connell: at the end of the day it is reasonable to hold these men or women responsible when the company fails.

it has to stop with these people, right? >> it absolutely stops with the ceo. each of these people you mentioned, they know what and they feel it, has a very negative impact on their lives. there are other people who made it through the crisis who also we look back didn't manage very well and they are lucky they survived and have learned lessons from it, but everybody has learned you have got to look beyond quarterly profits. if that is only thing you're looking at judging the performance of the current stock price, you are not looking for enough. connell: get the data write how you measure it. thank you a lot, always appreciate it. now, big stocks are destroyed today, the stock prices are both jumping on the news of a possible deal. lauren: vodafone says they are in talks with verizon where

verizon would buy a stake in that company and verizon could pay $130 billion. shareholders of both companies like that. they are up even more than that in london today and verizon is the leader obviously with a game like that on the dow and the s&p 500. jpmorgan is weighing on this and say the shareholder returns can be significant. they could return to 2% of the market cap to shareholders over the next five years. connell: longer lines at mcdonald's and burger king and wendy's today. a big debate, we are already having it in this country about the minimum wage. they want more pay. coming up. and will there be another winston churchill? stepping up as he did in world war ii. neil cavuto here to tell us about leadership.

before we do any of that, let's stay on top of the market today. the euro, there is a look at the currencies around the world. more "markets now" in just a moment. ♪ make it happen with the all-new fidelity active trader pro. it's one more innovative reason serious investors are choosing fidelity. get 200 free trades when you start using active trader pro today.

help the gulf when we made recover and learn the gulf, bp from what happened so we could be a better, safer energy company. i can tell you - safety is at the heart of everything we do. we've added cutting-edge technology, like a new deepwater well cap and a state-of-the-art monitoring center,he experts watch over all drilling activity twenty-four-seven. and we're sharing what we've learned, so we can all produce energy more safely. our commitment has never been stronger. bounce keeps my clothes fresh for weeks, even when they've been sitting in the drawer a long time. like those jeans you can't fit into anymore. uh...by that, i mean... [ malennouncer ] how do you get your bounce? long-lasting freshness.

>> 23 minutes past the hour. cruise right now battling the wildfire near yosemite national park and they are making progress even as a fire grows by 5000 to 10,000 acres per day. according to a california fire spokesperson, it is now 30% contained. it has already burned over 300 square miles. the levees broke under the strength of hurricane katrina flooding new orleans on this day. hurricane blamed for 1800 deaths and billions of dollars in federal aid has helped to build some new and stronger flood protection systems. city officials say 80% of the population has returned and the arrival of new industries is offering some hope for city that depends on tourism. we will bring your little sports today. u.s. open latest upset victim is when is williams who lost to

china in three sets. prior to the third round three years in a row, but no worry, shall now team up with her sister. those are all of your headlines this hour. back to connell. what do you think, a future of sports reporting? did i sell it? connell: we will have this debate on minimum-wage around the country and it has an effect on you today if you want to grab your lunch at a fast food joint because we ar expect the largest nationwide strike by fast food workers ever. in the middle of it of course our wages. the bottom line for today. liz: fast food workers coast to coast today are expected to launch their largest strike ever, it is expected to hit mcdonald's, burger king, taco bell and wendy's.

possible retailers like macy's, sears, walgreens and others could face walkouts. the protests are expected in cities like los angeles, san francisco, chicago, indianapolis, tampa, boston and new york. according to organizers, they are demanding higher pay. less than double the average $9 or so per hour they make right now. plus they want the right to unionize and they say many fast food workers are parents and the wages put six out of 10 of them at or below the federal poverty level. the fast food industry pays executives and some compensation well into the seven figures. the problem is automation. low skilled jobs, as well as the decline of unions. they're all being cited as having played a big part in this controversy. the companies themselves for the profit margins at fast food

franchises are so thin higher wages would put the companies out of business or even cause workers their jobs. national restaurant association says the restaurant industry provides 13 million americans with jobs, many of the jobs are part-time positions in half of the workers are college students. they pay opportunities for workers to rise through the ranks. one final point, the size of the protest varies across the country and w we're hearing through social media the movement, fast food worker movement does not want one day of coverage so you could see even more protest down the road. connell: a big story over the number of jobs versus how much they are paid. the world looking for a leader like winston churchill. what a conflict in syria force somebody to take a stand? neil cavuto coming up.

and johnny football suspended, sort of. we will talk about the big topic whether college athletes deserve to get paid. a commissioner coming on to talk about the economics of college sports. but first, taking a look at the priciest average college football tickets for this season. it is a big money industry, college sports. any last requests mr. baldwin? do you mind grabbing my phone and opening the capital one purchase eraser? i need to redeem some venture miles before my demise. okay. it's easy to erase any recent travel expense i want. just pick that flight right there. mmm hmmm. give it a few taps, and...it's taken care of. this is pretty easy, and i see it works on hotels too.

you bet. now if you like that, press the red button on top. ♪ how did he not see that coming? what's in your wallet? like carpools... polly wants to know if we can pick her up. yeah, we can make room. yeah. [ male announcer ] ...office space. yes, we're loving this communal seating. it's great. [ male announcer ] the best thing to share? a data plan. at&t mobile share for business. one bucket of data for everyone on the plan, unlimited talk and text on smart phones. now, everyone's in the spirit of sharing. hey, can i borrow your boat this weekend? no. [ male announcer ] share more. save more. at&t mobile share for business. ♪

connell: we are at the half-hour and coming up on markets now, looking for a leader like churchill. situation in syria forced someone to stand up. neil cavuto will tell us what he

thinks of that and charlie gasparino reporting the nasdaq is expected to release new details in the flesh freeze the took down the market and upset the market last week. charlie has that coming up and how about paying college athletes? texas a&m quarterback johnny mandel all over the news got a slap on the wrist, strange suspension, and should be n.c.a.a. rethink this whole thing? we would get into. the proposed merger between u.s. airways and american airlines may soon be given clearance. let's look at that. lauren simonetti back from a stock exchange. >> airlines are up today. one reason is oil is down. if you look at usairways, up by 4%. american and u.s. airways want to merge and the justice department is saying this would be anti-competitive. the justice department's set a trial date for march 3rd airlines are saying that is too

late. separately, the american airlines recently said there is no plan b for american which is in bankruptcy protection of the deal does not go through. connell: thank you very much. this morning the german chancellor angela merkel called on russian president vladimir putin, united nations security council discussions for what she described as a quick unanimous international reaction to the alleged use of chemical weapons in syria. vladimir putin already said no military force should be used against syria. you have this back and forth -pgoing on and people wonder wh will step up and be the real leader in this situation? is there another winston churchill out there? the great leader from world war ii? neil cavuto is managing editor of fox business and is there another church allowed there? dan henninger with year earlier and heard the story, the next surge of as three years old right now. neil: we would never have fought

in the days of the opposition party in britain that he would emerge to be the great decisive leader. even after world war ii was thrown out of office. you never know. there doesn't seem to be much of a hint of that. the global community seems to be getting a piece of cold feet on intervention. we were talking earlier about british prime minister david cameron throwing the parliament because of the pressure he is getting within his party, the opposition party we don't want to look like the pull of the united states, the rapid tony blair became that george bush. there is growing consternation of we risking another iraq? the president's people are saying let's make darn sure the evidence we are presenting, vladimir putin michelle ng is rejecting that they really are chemical weapons being used and assad is the guy using them and not his brother. what they seem to be saying is

if it is his brother who is in charge of this province that was getting all the chemical attacks than it is not really assad. now we are starting to split hairs. i am not here to justify the attack or not but say that we are clearly seeing decisiveness going. connell: brings up an interesting point how should people look at this. on the one hand these are complicated issues with a lot of gray areas, that is why we are seeing some indecisiveness. on the other side we want to make a decision and stick to it. easier said than done? connell: i always wonder, if i am assad and putting myself in his shoes, size 12 cop i am thinking they already said this is not about regime change so i am safe. they have all but come close to announcing the time of this. connell: weird how they tipped their hand.

robert: they operate -- neil: they already said the chemical depots for fear that they will do more harm than good if we blow the mop so we are after military installations, major airports that are targets so if i am him, okay, and i am also thinking if we use chemical weapons as a litmus test which is fine, it is a horrific thing to do if you are a leader or country doing that to your people but 100,000 syrians were killed prior to this, not by chemical means, shot or bombed or strafed. connell: does it matter how big a killed? neil: did his dad and butchering is butchering. don't know where you draw the line as we did in the days of rwanda when people were macheteed in the streets or in bosnia where they were knifed and shot. the manner of death matters. if i many tinhorn dictator and say the lesson here is i got to shoot them. stuart: other question about the economic consequences, you are

an expert. are there big economic consequences here? connell: neil: as we discussed before, it is not so much based on supply and demand is creating fear and the fear is misplaced, that this extends beyond the region. in other words that iraq hypothetically could shut down oil production, iran could do the same, iran could saber rattling with israel, we could see the suez canal and other vital port shutdown or maligned. that is an extreme case behind society general's $150 estimate for oil. that would have to take a perfect storm of all those events occurring to bring that and the history of these prior wars is that oil moves up ahead of the man quickly subsides after them. not across-the-board, not day-by-day but that is the pattern. it is anyone's guess what this will do. connell: thanks for coming in. neil: you don't mean it.

connell: not really. you haven't been here in a while. neil: deliberately. connell: file that way. what our are you in? dagen mcdowell is on vacation, that was the impediment. now that she is out you are back. she heard that. neil cavuto will be watching tonight 8:00 eastern on the fox business -- neil: horrible co-anchor. connell: no doubt about that. tom ridge coming. d v r it. watching that later. neil: go back to the ranch. connell: good shot at the ranch, a special on that coming up monday. the great neil cavuto. he is on serious subjects we can't get through without at the end. we are waiting on new details about the nasdaq/freeze from a week ago and that if anyone can tell you about it will be charlie gasparino coming the next with exclusive recording and johnny mandel, a partial suspension, half a game. we will take a look at that topic and whether college

athletes should be paid. the law has a price for apple, the co-founder, chief of iphone would help them cross over in china. that story at the top of the hour with cheryl casone on markets now but first look at more markets, take a look at treasuries and we will be right back with more. you know throughout history,

folks have suffered from frequent heartburn. butetting heartburn and then treating day after day is a thing of the past. block the acid with prilosec otc, and don't get heartburn in the first place. [ male announcer ] one pill each morning 24 hours. zero heartburn.

lori: i am lori rothman with your business brief, the economy grew faster than we previously thought. the second read on the second quarter gdp came in with an upward vision to an annual expansion pace of 2.5% up from one.7%, the first take on the second quarter gdp. we learned this morning jobless claims are near the lowest level in six years, 331,000 people filed first-time jobless benefits last week. the estimate was 332,000. parents single or married are less likely to be among the long-term unemployed. study from the nonpartisan urban institute found more than half, 55% of those unemployed for 27 weeks or more were single without children. analysts say parents could be taking less than ideal jobs, and responsibilities could be waiting for better opportunity. that is the latest from the fox business network.

connell: we mentioned we would have breaking news on the nasdaq providing additional information on the so-called flash freeze and we are getting a senior correspondent charlie gasparino in studio. what do we know? >> what forces are telling the fox business network that this information whatever it is, i will summarize what it is after, that this could come as early as today awaiting regulatory approval from the sec which seems to suggest to me that it is going to be significant that the nasdaq will put more meat on the bonds and be able to describe in more detail how the flash crash occurred, how it broke down, began with the pricing system known as the secured information processor, to make your eyes glaze over that is what is called and that is an information processor that feeds prices from other exchanges to the nasdaq. one of the things that came out the people at the nasdaq talked about that some of the prices that were faulty and cause the system to breakdown, caused them to freeze the system was there

was a pricing problem out of the archipelago's system, the arch rival nyse. why are they dealing with the nyse prices? nasdaq was going to trade anywhere, the nasdaq is responsible for the pricing and making sure the data of those stocks are priced right. that is the regulatory system we have. from what i understand what forces are telling the fox business network we are going to get a lot more. i will say significant detail on exactly how this breaks down as soon as the sec approves it. i have sources in washington telling me they are likely to approve this today. nasdaq we should get out is not commenting on this for good reason. we should point out wyatt nasdaq, come under tremendous pressure because of this thing, the sec is investigating obviously. last thing they want to do is end up in the cross hairs of the

sec anna systems malfunction but i'm getting this from my regulatory sources that this could come tomorrow but it is with the sec. what might it say? i think the way i am hearing this, this is pure surmise, somewhat speculative but take it for what it is worth, somewhat positive to the nasdaq, that will show it wasn't necessarily total malfunction at the nasdaq but something more along the lines of unavoidable error. we should back out even though the data feed comes from the new york stock exchange what is happening at the stock exchange they are trading nasdaq lists of stocks, you can trade nyse-listed of stock, stock would be premature of the nyse or the nasdaq you could trade those stocks anywhere, in the black pool. these were traded at the arca where this whole thing, this entire malfunction began.

that doesn't leave the nasdaq off the hook. it is responsible for the trading as it comes out of the archipelago system. but we are going to hear more detail on it. what you might hear officially is this malfunction began with an issue with the arco. that has not been out there officially. my guess is it we are going to get some of that in a statement. we don't know when the statement is going to come out. to be as early as today but it needs approval of the new york stock exchange, the securities and exchange commission and we should check out the nasdaq and its chief bob greifeld come under a lot of criticism without communicating entirely what is going on. i think some of that is overdone. some of the problems bob greifeld has is the fact he has to deal with regulators and his member firms and the stuff is going to get out to the public in general later, my main concern is making sure people trade directly with us.

we are going to see what happens. when this thing gets out, i will be the first to bring in a. connell: we will have charlie back on for that and we don't know what it is or exactly when it is coming but possibly as early as today, may look better. thanks. let's get to the markets, syriac, everyone is focused on this week. our next guest believes that if we see a strike in syria, market rally. gray wolf execution joins us. why is that? >> everyone is trying to get a feel for what the market is rallying. some people say when a fight begins that should cause the market to rally. others say the inaction or delay is causing vote rally but the bottom line is low-volume period, and stocks are rallying. in the past at least when the market has rallied when strikes have begun if you look at 2003 and also 2011 and see a big pullback in wti crude which had

big surge, right now is still o benefited from this move in oil over the past couple months a looks like the right sector to be in. many are trying to come to grips to explain the ads and flows of stocks given volatility and volume are so light and knowing we have an impending strike and try to figure out the cause and what the ramifications are. connell: we will check with marc newton at the stock exchange later today. we will talk about money and college sports coming up and one hot topic is whether at least should be paid for play more signing autographs or whatever the case may be. one big-time conference commissioner coming up next and as we go to break before we get to that take a look at the more valuable college teams. this is the list we will show you from last year. ♪

nascar is about excitement. but tracking all the action and hearing everything from our marketing partners, the media and millions of fans on social media can be a challenge. that's why we partnered with hp to build the new nascar fan and media engagement center. hp's technology helps us turn millions of tweets, posts and stories into real-time business insights that help nascar win with our fans. i'm, like, totally not down with change. but i had to change to bounce dryer bars. one bar freshens more loads than these two bottles. i am so gonna tell everyone. [ male announcer ] how do you get your bounce?

[ woman ] time for change!

connell: markets now. the big sports story everyone is talking about is what money story, the heisman winning quarterback johnny mandel suspended for the first half of the season opener against rice this saturday. the school called it an inadvertant violation of n.c.a.a. rules, n.c.a.a. investigating johnny mandel on allegations he accepted money for signing autographs. that would be a violation of the governing body's policy. he did avoid significant punishment but the situation scared of debate whether college players should be paid and we welcome back to commissioner of the brand-new american athletic conference who has been on with us. some economic questions, the big

east is split up and everything you do this year but would you make of this half game suspension? >> i don't know all the facts. the n.c.a.a. hasn't released all the facts. the data thorough investigation and felt that was appropriate and that is all want to say. money in sports is what we want to talk about. connell: texas a&m showing the revenue at the to $120 million for athletics when you look at ticket sales and tickets rise and everything else. the think players like this gets special treatment in these cases? >> i don't think so. what is happening is we are looking at as you know, you read about it, cost of attendance for athletes, whether they should give a stipend to round out what the called -- college provides and they can play tennis. what you don't want to do is paid players. that is a mistake. connell: why not? let's get that out of the way. >> the model that has been a successful model, the colleges don't want to get into that. once you do it leads to all sorts of things you don't want. connell: even for their likeness

and all that. >> you have to deal with those issues and those will be vetted but the point is what you have is a model for grew up in this country as part of the cultural fabric. it is import to the schools to have at reddick programs like this, student athletes benefit and remember, these programs benefit student athletes that don't contribute commercially to the university at all, thousands of student athletes play sports that have to be subsidized by major sports. in addition you have some coaches paid a fair amount of money. the attention to games in the community and help admissions and you have to factor that. connell: when the big east split up, two conferences were created, wanted the big ec and these basketball power schools and the other conference is the american athletic conference, looking at your names like uconn and rutgers is leaving and

louisville is a big one. moneywise, from what b.c. $20 million a year on a tv deal, huge conferences, $200 million tv deals, financially it is tough to start a new conference or one that split from a big one. how do you do it financially? >> first of all it is more than $20 million. that was one deal and it was underreportedly kept marketing rights and had a second tv deal. connell: i won't get into that. >> it is more than that. in addition we have a significant amount of revenue because of exit fees and units left behind by schools, significant amount of revenue was going to be wind at our backs in terms of financial health of the conference and when we made the settlement with a group of catholic schools the vast majority of that revenue going forward. we are in good shape and we will be part of the b.c. as revenue and college football revenue and also have units, a gain money

from the basketball tournaments and do fine. connell: a lot of money in college. >> we know we are worth more but at the time we had a lot of instability, we stabilized. we are proud of what we have accomplished that have a good solid 12 team league and you will see us play good football and basketball. and good tv exposure. connell: look forward to watching that and thank you for coming in to talk about these topics. american athletic conference. thanks a lot. meantime to the big story of the day, the middle east concerns if that is not enough for the markets particularly the oil markets this fire we're going to talk about, marcus allen has that and a cheaper iphone. only for china. steve what the heck is pushing for that. cheryl casone with all that and more, the latest after a quick break. [ male announcer ] imagine this cute blob is metamul.

and this pk is the inside of your body. see, the special psyllium fiber in metamucil actually gels. and that gelling hes to lower some cholesterol. metacil. 3 amazing benefits in 1 super fiber. metacil. when you do what i do, iyou think about risk.. i don't like the ups and downs of the market, but i can't just sit on my cash. i want to be prepared for the long haul. ishares minimum latility etfs. investments designed for a smoother ride. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus, which includes investment objectives,risks, . read and consider it carefully before investing. risk includes possible loss of principal.

spacex hello, everyone. i am cheryl clouseau.

the united states sending a fifth navy destroyer. tensions are mounting. emergency personnel is still battling a fire on a south texas drilling rig. a cheaper iphone made exclusively for china would help. fast food workers nationwide demanding more pay. it is the top of the hour. >> starts are up today. still down for the week. the broader market down 1% for this week.

homebuilders are very strong today. lots of games across the board. back to you. cheryl: thank you very much. the obama administration officials holding briefings with members of congress. britain announced it will hold off plans until after hearing from you and weapon inspectors. rich: very similar missions and challenges here. over in the uk, holding a parliament meeting right now. the liberal party is pushing back. they want more intelligence.

>> there is no 100% certainty on who is responsibility. i think we can be asserted as possible that what we have a regime, that if nothing is done, it will include that it can use these weapons again and again. rich: they briefed congress. they have to sell this thing though. there are members of congress that what any type of and intervention.

back to you, cheryl. cheryl: thank you so much, rich. this issue of leadership in the united nations, here is the problem. you have put in who is making a decision on syria. who will lead in the united nations? will it be someone like angela merkel? >> i do not think anything will happen in the security council.

the report is not until mid- next week. he faces a revolt within his own party at this point. president obama, the best we can tell, remains committed to some kind of reaction and theory up. it seems to get less and less and less. cheryl: what can the president do to convince congress, who, by the way, is still on congress for the next couple weeks. >> to advance his own policies,

he needs to advance the intelligence. he displays an appalling lack of strategic focus. he told national public television a day or two ago that the use of force was to send a bow across the regime. that does not hit anything. if that is the message he wants to send, they will not be deterred from using chemical weapons ever again. cheryl: why are we waiting on these inspector reports?

is it because no one wants another iraq war? >> i think that this is that many of the united states placed on the un is a religious reason. the religious reason is no one can use force around the world unless the security council authorizes it. i think that is completely wrong. i think the u.s. has full authority to do what it wants to do. there are many in this country who want to tie america's hands. the best way to do that is to say you cannot act until the un lets you. i do not think he will miss the opening of the general assembly.

cheryl: this will be fascinating. investors are trying to rise above this wall of worries. let's first start on this issue of syria. >> i think in the short term the biggest risk is what is going on in the middle east. i do not think it could be sustained because the economy is not strong enough to sustain it. in the near term, that the big

risk. the bigger risk going forward will be on the fiscal side. we once again have to deal with the debt ceiling. >> that is fair enough. it also could create a short-term economic push. we have not even got into the issue of gdp. are the markets overreacting or maybe gotten ahead of themselves today? >> i think the gdp number this morning was a little stronger than the market expected. i think the markets are still

very focused on the sad and the tapering of bond buying. i think that is the big story longer term. the tapering really does not matter. i would like to see it performed without subsidies. >> i am not sure i agree that the bond buying has been overrated. i do agree that it is approaching the time where we should be winding this thing down.

cheryl: we had a better trade imbalance and we have had in quarters past. i wonder if that will be able to stick through. >> you are absolutely right. the improvement in that exports will probably not be sustained in the third quarter. there was enough relation to inventories. i think that limit the upside potential for third-quarter growth. the reason i think we will continue to go in the right direction is we do have growth. manufacturing should also pick up in the second half of the year.

cheryl: i do want to ask you about current action today. i realize we have lower volume. is the market activity today making sense to you? >> we are long-term investors. it is completely irrelevant to us long-term. i think the economic signals are very fixed. there is very little inflation right now. it is an artificial growth story, if you will. we cannot have this situation go on forever without damage to our economic and monetary situation.

cheryl: i want to talk about the issue of unemployment. i am hoping the fed will factor this into their decision. >> it is already a factor. the effect intended to describe the labor market as week. we have a long way to go. cheryl: still sitting over 7%. it is crazy. a south texas leg is still

ablaze. it is expected to burn for days. we will have the latest coming up. a nationwide fast food strike going on right now. we will examine this issue coming up. making money with charles payne. take a look at energy as we go to break. we will be right back. ♪ [ indistinct shouting ]

♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all onhinkorswim from td ameritrade. ♪ folks have suffered from frequent heartburn. butetting heartburn and then treating day after day is a thing of the past. block the acid with prilosec otc,

and don't get heartburn in the first place. [ male announcer ] one pill each morning 24 hours. zero heartburn.

cheryl: the dow is up 65 points. the markets are rallying today. chevron was your leader yesterday. chevron is actually down today. we are getting new details from

fox business. he reported in the last hour of markets now that we will get more details. c is saying that we will be getting more details from the nasdaq including what was the cause. that is according to charlie gasparino. we also have this that we want to show to you. firefighters are still battling this place. phil flynn is standing by in the pits of the se. to the pictures of fact the contract? >> not really. the supply, the market does not even know it has yet.

it is really revitalizing accesses inside of the climbing production. companies have gone in there and turned that around. as far as the market movement, we are really focused on inventories today. it was higher than expected. it is driving natural gas down. the reason we are probably not really breaking this market, look down at the atlantic once again. you have tropical storms that could be developing over the weekend. cheryl: hurricane season once again. thank you for the commentary.

>> thank you. ♪ cheryl: time to make some money with charles payne this hour. charles, are you blinded by the light? charles: it is so funny. i have done grief with you before. we took profits about a month ago. the stock just recently took a hit. this is an important lesson. sometimes the height at the head of the stock. when the reality comes, the stock gets hit. i think this hit was just too much. i would love to see it start to trade higher.

a break at 60 is when i think it will restart to gain momentum. cheryl: you and i were talking about gdp. do you think they will get a lot more volatile? charles: i think the rhetoric could be very dangerous for the market. the markets took a really big hit last time. we took a hit after they came to a deal, but it was too late. we got the downgrade on our triple rating. i like where you are coming from with respect to gdp. we were promised things would be better this time around. you know, it is one of these things. by the same token, the street a

long time ago learned how to really brace this. nothing to celebrate, but today, break out the pom-pom. we are back into it. i like it again. cheryl: thank you. nationwide fast food strikes. workers are demanding double what they currently make. we will have the latest for you coming up. millions are hitting the roads this labor day weekend. here are the numbers for you. let's take a look at the world currencies. the dollar is fighting back against the euro and the pound and the canadian dollar. we will be right back. ♪ (announcer) at scottrade, our clients trade and invest

exactly how they want. with scottrade's online banking, i get one view of my bank and brokerage accounts with one login... to easily move my money when i need to. plus, when i call my local scottrade office, i can talk to someone who knows how i trade. because i don't trade like everi'm with scottrade. me. (announcer) scottrade. awarded five-stars from smartmoney magazine. nascar is about excitement. but tracking all the action and hearing everything from our marketing partners, the media and millions of fans on social media can be a challenge. that's why we partnered with hp to build the new nascar

fan and media engagement center. hp's technology helps us turn millions of tweets, posts and stories into real-time business insights that help nascar win with our fans. like carpools... polly wants to know if we can pick her up. yeah, we can make room. yeah. [ male announcer ] ...office space. yes, we're loving this communal seating. it's great. [ male announcer ] the best thing to share? a data plan. at&t mobile share for business. one bucket of data for everyone on the plan,

unlimited talk and text on smart phones. now, everyone's in the spirit of sharing. hey, can i borrow your boat this weekend? no. [ male announcer ] share more. save more. at&t mobile share for business. ♪ at&t mobile share for business. help the gulf when we made recover and learn the gulf, bp from what happened so we could be a better, safer energy company. i can tell you - safety is at the heart of everything we do. ed cutting-edge technology, like a new deepwater well cap and a state-of-the-art monitoring center, whe experts watch over all drilling activity twenty-four-seven. and we're sharing what we've learned, so we can all produce energy more safely. our commitment has never been stronger.

>> 25 minutes past the hour. eight years ago today the levees had broken and flooded new

orleans. that is played for 1800 deaths. city officials say 80% has returned and the arrival of new industries is offering some hope. the yosemite park fire grew overnight. the blaze now 30% contained. it has already burned within 300 square miles. taking a look at the u.s. open. venus williams did play late last night and lost to china. i am jamie colby sending it back to cheryl. cheryl: thank you very much. >> they never disappoint.

cheryl: no. not at all. you may have trouble getting your fast food fix today. the issue wages. elizabeth macdonald has the bottom line. >> they want about double the pay that they are getting right now. they also want the rights to unionize. at fox business, we have been tracking potential protests across the country. places like the walking, indianapolis, san diego, san francisco, boston. one out of four of the workers are actually parents. yes they are college students. the fact that they are being paid just about the minimum

wage. they are at or near the poverty level is getting them very upset. cheryl: there are decent protest going on. >> they have been behind it. the other side is saying, listen, if you do raise the wages for the workers, then you will lose jobs. these are mom and pop franchises that report profits back to the

parents. cheryl: mcdonald's is one thing. look at a dunkin' donuts. that is a 100% franchised company. can they afford to pay this higher wage? if not, store closes. >> ipads could replace these workers. mom and pop franchises say we will just put an ipad in. cheryl: they have been struggling on the numbers. >> we see self bagging at grocery stores. cheryl: thank you very much.

fox business has cameras across the country. we will be monitoring all week long. while higher oil prices translate to higher gas prices? we have prices at the pump. brace yourself. apple cofounder has advice for apple, make a cheaper iphone in china. as we go to break, take a look at some of the winners over on the s&p. the dow is down 71. ♪ [ male announcer ] sheets or bar? how do you get your bounce?

bounce keeps my clothes fresh for weeks, even when they've been sitting in the drawer a long time. like those jeans you can't fit into anymore. uh...by that, i mean... [ male announc ] how do you get your bounce? long-lasting freshness. if then schwab is the placeing your trato trade. higher level, tdd#: 1-800-345-2550 [ male announc ] how do you get your bounce? call 1-888-577-5750 or visit schwab.com/trading to tdd#: 1-800-345-2550 learn how you can earn up to 300 commission-free online trades tdd#: 1-800-345-2550 for six months with qualifying net deposits. tdd#: 1-800-345-2550 see how easy and intuitive it is to use tdd#: 1-800-345-2550 our most powerful platform, streetsmart edge. tdd#: 1-800-345-2550 we put it in the cloud so you can use it on the web. tdd#: 1-800-345-2550 and trade with our most advanced tools tdd#: 1-800-345-2550 on whatever computer you're on. can use it on the web. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 also, get a dedicated team of schwab trading specialists tdd#: 1-800-345-2550

who will help you customize your platform tdd#: 1-800-345-2550 even from the comfort of your home. tdd#: 1-800-345-2550 and talk about ideas and strategies, one on one. tdd#: 1-800-345-2550 get all this with no trade minimums. tdd#: 1-800-345-2550 and only $8.95 a trade. tdd#: 1-800-345-2550 call 1-888-577-5750 or visit schwab.com/trading tdd#: 1-800-345-2550 to open an account. tdd#: 1-800-345-2550 and learn how you can earn up to 300 commission-free tdd#: 1-800-345-2550 online trades for six months with qualifying net deposits. tdd#: 1-800-345-2550 our trading specialists are waiting to help you get started. tdd#: 1-800-345-2550 so call now. tdd#: 1-800-345-2550 ask me what it's like to get your best night's sleep every night. [announcer] why not talk to someone who's sleeping on the most highly recommended d in america? ask me about my tempur-pedic. ask me how fast i fall asleep. ask me about staying asleep. [announcer] tempur-pedic owners are more satisfied than owners of any traditional mattress brand. tempur-pedic. the most highly recommended bed in america. buy a tempur-pedic mattress set and get a free twin tempur-simplicity mattress. find a store near you at tempurpedic.com.

cheryl: facebook is looking at adding most of its 1 billion member photos into its facial recognition database. we will see what that means for the stock. cheaper iphones, but only for china. in california, san bernardino is able to proceed with a bankruptcy filing. time for stocks now. i want to bring in lauren simonetti. what is technology about? >> facebook has a plan. they are looking to take your profile picture added to their database and essentially you are tagged on automatically. it is based on previous photos

that have been uploaded. this is what facebook has to say about it. adding photos would give better control over the information. you then know where you have been seen. nonetheless, i guess it is just a way of rebelling. facebook stock, believe it or not, is up nicely today. >> we will ask rob about that coming up shortly. oil is taking a breather today. sandra smith has the latest in her trade. >> we are definitely feeling a lack of urgency that we felt in previous few sessions.

right now oil selling off nearly one dollar. brent, crude prices also reflecting and easing concerns out there. they are now pricing in the fact that this does not look like it will be happening immediately. meanwhile, we are watching crude prices. one thing to note from the trading floor, for anyone who is still bullish, this selloff that is happening today is on very light volume. we were just looking out volume down 20%. typically when you see a selloff, there is not a lot of conviction to the downside.

we are definitely still in a wait and see mode. cheryl: thank you. this has many concerned about rising prices at the pump. drivers can relax. i hope that is the case. you do not think prices will be rising as fast as we are predicting? >> i do not think so. we will see a nominal increase in some areas. we are not expecting a severe strike. part of the reason for that is because of the time of year we are in. once we get labor day weekend behind us, that typically drops

off. we are expecting it to decline by 300,000 barrels a day. cheryl: every time that you see oil prices rise, gas prices almost always intend to go higher. why is this moment in time any different? are we less dependent on middle east oil? >> there is no question about it. right now we are producing about 2 million barrels a day more than we were back in 2011. cheryl: you talked about regions. what about the northeast region? i know you do not think it will.

what does that mean for the northeast region, in particular? >> there is a greater likelihood that they will see those prices over the next several days. we expect prices to return to the seasonal book line that we see every year. typically, through the fourth quarter. cheryl: do you think that the rise in natural gas prices are helping as well? >> i cannot say. i could not comment very much on natural gas production. even in the next six months, we expect it to be approximately --

cheryl: do you think that will affect prices either to the upside or the downside over the next few months? >> believe it or not, we are actually seeing prices move to the downside. we would expect it to continue. cheryl: any other good news that you can give us? our trade in saying a lot of them do not want to be in certain contracts. are you factoring any of that into your predictions for the weekend. >> we are. certainly, august and september are the most volatile. we are optimistic that that will

continue. we are basing our estimates entirely on not. cheryl: thank you. have a great holiday weekend your self. call it the next stockton. we have the details on the latest california city filing for bankruptcy. ♪ then i better use the capital one purchase eraser to redeem my venture miles for this trip. purchase eraser? it's the easy way to erase any recent travel expense. i just pick a charge, like my flight with a few taps, it's taken care of. impressive baldwin. does it work for hotels? absolutely thank goodness. mrs. villain and i are planning our... you scare me. and i like it. let's go

what's in your wallet?

>> i am tracy byrnes with your fox business brief. that estimate was for 332,000. numbers suggest a strengthening after a slight pullback in july. ford making its fusion sedan and the u.s. for the first time today. sales are up 13% through july. the economy grew faster in the second quarter. the second quarter was revised higher. it is up 1.7% in the prior

reading. ♪

cheryl: a cheaper iphone in china. that is unsolicited advice. he believes it could increase foreign sales. joining me now is rob tenderly. >> low-cost product done right could be beneficial in china. products that are not supposed to be in a region that have made it their through the means.

it would really damage apple's brand. it would be a very risky proposition. cheryl: having said that, he did make some fair comments in that same interview about the same fact that he would like to see a bigger screen. he wants to wear something on his wrist. we have been talking about a potential apple watch forever. what did you make of it? apple's audience is more my age than the age of justin bieber.

cheryl: really quick before i let you go, i want to ask you about the news from the new york stock exchange. facebook is really touting this facial recognition that knowledge he. it could be a game changer for the company. >> it is being deployed in your favor. they are putting it in very aggressively. if you are worried about your pictures being tracked, that worry is well founded. cheryl: we saw this flash on your screen a few moments ago.

the nfl reaching a settlement with several players over concussion related injuries. this is after a month of mediation. damon, what did you make of this? these were some famous guys. this dragged on for quite a while. is this good for the league, do you think? >> most people thought this would drag on for years and years. there could be other lawsuits which always happens in class action settlements. there is a companion case going on.

cheryl: at the same time, a lot of the settlement money will go to the family of the player. again, a lot of the money will go towards treatment and prevention. programs within the nfl. >> the nfl clearly is changing how the game has been played. they may need the medical attention right away to survive. while the 765 may surprise some

people for being lower than the billions expected, some of these former players really needed the money. cheryl: okay. the judge still has to approve the deal. do you think this takes the pressure off the nfl commissioner? >> it has been a black eye. the stories you hear are appalling. they can not really all be placed at the commissioner's doorstep. he only took over in 2006. it must be breathing a sigh of relief if indeed the threat of litigation is behind it. cheryl: a massive lawsuit.

thank you very much. thanks four calling in on the breaking news. we appreciate it. first it was stockton, now another golden state city. we will have the details coming up in the west coast minute. ♪ can be a challenge. that's why we partnered with hp to build the new nascar fan and media engagement center. hp's technology helps us turn millions of tweets, posts and stories into real-time business insights that help nascar win with our fans.

>> time with your west coast meant. a federal judge granted the city protection after had run out of money due to large pension obligations. calpers just one of 10,000 creditors for san bernardino. refusing to pay for cancer treatment especially high cost protein beam therapies for early-stage prostate cancer.

blue shield assesses no scientific evidence to support the $3000 cost of the treatment when it is not proven to be any more effective than cheaper radiation therapies. in san jose, city council push to ban sodas has crashed and burned literally. the proposal was similar to banning secondhand smoke but also looking to ban the sale of whole milk bringing criticism and mockery from other members of the council. that is rare west coast minute. things are ramping up in the middle east. the u.s. sending a fifth destroyer the mediterranean after russia says was sending sending ships to the region. the energy trade on this next. and charlie gasparino exclusive reporting coming up in the next hour plus the proposed settlement between the nfl and former players over concussion related injuries. hundreds of millions to be paid

out of the judge approves it. coming up. stay with us. [ male announcer ] imagine this cute blob is metamucil.

and this park is the inside of your body. see, the special psyllium fir in metamucil actually gels to trap some carbs to help maintain healthy blood sugar levels. metamucil. 3 amazing benefits in 1 super fiber. metamucil. everybody has different ideas, goals, appetite for risk. you can't say 'one size fits all'. it doesn't. that's crazy. we're all totally different. ishares core. find out why 9 out of 10your large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus, which includes investment objectives, risks, charges and expenses.

read and consider it carefully before investing. risk includes possible loss of principal.

adam: i am adam shapiro. lori: i am lori rothman. welcome to the new normal. $85 billion per month and all we get is 2% economic growth? today's gdp report, the last before the fed september meeting and much-anticipated decision on stimulus. adam: trading, the energy market on edge as we weigh the obama administration decision on syria. matt smith will join us on the premium and what the market should really be focused on in the middle east. lori: nasdaq chief under pressure for lack of communication over the flash freeze of a couple of weeks ago. it would be getting more info finally today?

adam: fast food workers walk off the job with protest for more money nationwide. strikes in 20 cities. demanding $15 per hour. time to check on your investment. on the floor of the new york stock exchange, lauren simonetti is there. is that all that is in play? lauren: it is interesting because jobless claims at a six year low, huge uptake in gdp in the second quarter and the market of, sometimes the good news is interpreted as bad news when it comes to the fed, maybe they will or will not taper. we are interpreting as good news. probably higher, oil pulling back, gold pulling back, really powering the dow and the top of the s&p 500. back to you. lori: things. liz economic reading and